Project development and contracting company Leighton Holdings Ltd
(ASX:LEI) says its joint venture with construction company Abigroup, has been awarded a $240 million contract to deliver upgrade works on the Gateway Motorway from Mt Gravatt-Capalaba Road to Miles Platting Road.
Leighton says the works are an extension to the existing Gateway Upgrade Project, and will involve widening the Gateway Motorway from four to six lanes, improvements to the road alignment and localised improvements to the Mt Gravatt-Capalaba Road interchange.
So far the joint venture has delivered the 7 kilometre Gateway Motorway north of the Brisbane River in July 2009, as well as additional lanes south of Old Cleveland Road.
The new Gateway Bridge and 12 kilometre of upgrade motorway south of the bridges will open to traffic by mid this year.
Abigroup national operations director John Kirkwood says winning this new contract is a vote of confidence from the Queensland Government and Queensland Motorways on the work the joint venture has carried out so far in delivering the Gateway Upgrade Project.
Leighton says work is expected to commence immediately with a scheduled completion date of mid 2011.
Leighton Holdings fiscal 09 profit came to just over $440 million.
